Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

NorthEast Community Bank Review

Your Details Done
by Updated
NorthEast Community Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1934, NorthEast Community Bank has $805 million in assets as well as deposits totaling $629 million, making the institution a medium-size bank. NorthEast Community Bank, whose headquarters are in White Plains, New York, has above-average access to customer service with all-day support available, great for getting help during the work week. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. We gave the bank a 4.7 stars out of 5, which means NorthEast Community Bank is among the best banks, and should be given strong consideration. NorthEast Community Bank has a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, NorthEast Community Bank's standard checking account does not have a monthly fee. Locating a bank with free checking, in addition to a high interest rate savings account is the best bet for returning the highest income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.7/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

4.3
SmartAsset Average: 3.5

With a savings rate of 0.25%, NorthEast Community Bank ranks poorly in comparison to the average U.S. bank. NorthEast Community Bank's one-year CD has a rate of 2.33% and the five-year CD earns at a rate of 2.89%, while its highest-yielding money market account earns at an APY of 0.40%. Given NorthEast Community Bank's noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How NorthEast Community Bank's Savings Rates Compare

NorthEast Community Bank Savings 0.25 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

NorthEast Community Bank charges its customers extremely low fees as compared against the national average. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. NorthEast Community Bank unfortunately does not refund out-of-network ATM charges, which means you'll have to locate a NorthEast Community Bank ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

4.5
SmartAsset Average: 3.7

NorthEast Community Bank is a brick-and-mortar bank, with eight total bank locations in Massachusetts and New York. With mobile and web apps, NorthEast Community Bank makes mobile banking straightforward, even on the go. It provides all-day customer service. NorthEast Community Bank gets high marks from users for its mobile platform. The NorthEast Community Bank mobile app has an overall rating of 4.6 out of 5 (out of 43 reviews on Apple and Android) compared to the national average of 3.8. NorthEast Community Bank's mobile app allows you to manage your accounts by looking at account balances, sending and receiving money as well as reaching support representatives. NorthEast Community Bank receives a superb consumer satisfaction rating due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.8
SmartAsset Average: 4.8

NorthEast Community Bank is currently a medium-size bank with $805 million in assets as well as deposits totaling $629 million. Its Texas Ratio is 4.72%, suggesting a low probability of failure. Additionally, NorthEast Community Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.72%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Back to Overview

Compare NorthEast Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $500
Checking Account 0.25% APY $50
Certificates of Deposit
  • 12 Month: 2.33% APY
  • 24 Month: 2.58% APY
  • 36 Month: 2.69% APY
  • 48 Month: 2.79% APY
  • 60 Month: 2.89% APY
$1000 for all terms
Money Market Account 0.4% APY $25000

NorthEast Community Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. NorthEast Community Bank does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. NorthEast Community Bank's CD rates are fair in comparison to the national average.

Back to Overview

Find a NorthEast Community Bank Near Me

NorthEast Community Bank has eight locations across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure